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Equity markets regained the bullish momentum as news came in that the United States and China were going to sign the phase one deal. Both parties were positive on the developments. Although the deal is still the first step, investors believe that this will open the way for further talks. Markets have been jittery since the start of the year with both parties flip-flopping on trade talks.
Euro Slips as US Data Marginally Better
The euro currency posted losses on Friday. The declines came on the back of USD strength. Economic data on the day saw US personal income rising 0.5% on the month. This beat estimates of a 0.3% rise and up from a revised 0.1% previously. Data from the Eurozone was sparse with only the consumer confidence data which did not impact the flow much.
Will EURUSD Rebound from Support?
The common currency’s declines have pushed the euro down to 1.1072 level of support. From here on, we expe...
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